August saw an amazing increase in job openings in the US

According to new Bureau of Labor Statistics data released Tuesday, US employer job openings unexpectedly rose in August, demonstrating the labor market's resilience.

Seasonally adjusted data from the BLS' latest monthly Job Openings and Labor Turnover Survey (JOLTS) estimated 9.61 million open jobs in August. The July estimate of 8.92 million openings was revised up.

Refinitiv reported economists' consensus of 8.8 million openings.

Posted jobs increased most in professional and business services, finance, other services, and nondurable goods manufacturing, the report found.

In August, openings rose despite a three-month decline, but JOLTS estimates are still far below the record 12.03 million set in spring 2022. BLS data shows 9.74 million monthly openings this year.

The strong labor market, especially the job posting-to-job seeker imbalance, has been cited by Federal Reserve officials as a key factor in lowering inflation.

This week will bring more labor market dаta: Wednesday brings ADP's September private-sector payrolls and wages report, Thursday brings the latest jobless claims and job cuts report, and Friday brings the Labor Department's September jobs report.